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USD/JPY: A Break Higher At 127.80 Is A Buy Signal

ByJason Sen
Published 05/30/2022, 02:37 AM
Euro US Dollar
0.19%
British Pound US Dollar
0.15%
US Dollar Japanese Yen
-0.04%
Australian Dollar US Dollar
0.23%
Euro Japanese Yen
0.16%

AUD/USD finally tests very strong resistance at 7135/55. Shorts need stops above 7175. A break higher this week is a buy signal targeting 7230/50. Shorts need stops above 7275. Shorts at 7135/55 target 7090 then 7060/50. Further losses test support at 7020/10. Longs need stops below 7000.

USD/JPY shorts at resistance are at 127.50/70; stops needed above 127.80. A break higher is a buy signal targeting 128.20/30, perhaps as far as strong resistance at 128.70/90. Holding resistance is at 127.50/70, which targets 127.20/00. A break below 126.80 targets 126.30/20 and eventually 125.80.

EUR/JPY holding strong resistance at 136.50/70 (perfectly on Thursday and Friday) targets 135.60/50 for profit taking on shorts. Further losses target 135.35/25. If we continue lower, look for 134.65/55 then strong support at 134.20/00 for profit taking on any shorts. We should have strong resistance again at 136.50/70. Shorts need stops above 136.95. A break higher targets 137.20/30 then 138.00/20.

EUR/USD longs at support at 1.0670/50 start to work on the bounce towards strong resistance at 1.0800/20 for profit taking. Shorts need stops above 1.0835. Support again at 1.0670/55. Longs need stops below 1.0640. Strong support at 1.0600/1.0590.

GBP/USD made a high for the day 6 pips above strong resistance at 1.2640/60. Shorts need stops above 1.2680. A break higher this week is a buy signal initially targeting 1.2725/45. Shorts at 1.2640/60 target 1.2590, perhaps as far as 1.2555/45 for profit taking.

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Latest comments

tajuden nizamMay 31, 2022, 13:10
thanks sir..for your kind sharing
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